Latest Breaking Business News
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Wall St. bucks global slump
Nikkei plunged 7.3% on Thursday. Investor jitters then spilled over into Europe, where major stock indexes dived 2%. Wall Street opened deep into the red, with major indexes initially falling about 1%. The Dow Jones industrial average sunk more than 100 points shortly after the opening bell on the New York Stock Exchange. But as trading continued, investors flocked back, paring the day's ...
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Rio Tinto Begins Cutting Jobs at Utah Copper Mine After Slide
Rio Tinto PLC (RIO.LN) has cut about 100 jobs at its copper operation in Utah and warned further positions will be cut later this month as it moves to reduce operating costs after a large part of the pit wall collapsed at its Bingham Canyon mine last month.The London-based company's Kennecott Utah Copper unit in a statement Thursday said it continues to take steps to reduce the impact on ...
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ASIA MARKETS Japan Stocks Recover Modestly After Steep Sell-off
HONG KONG – Japanese stocks jumped Friday to stage a modest recovery, with relief buying emerging after the extreme losses they suffered the previous day, amid expectations that the rally that began late last year may have further to go.The Nikkei Stock Average climbed 3% after diving 7.3% in the previous session, while the broader Topix advanced 2.6% after Thursday's 6.9% ...
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RPT-Hong Kong shares to open flat Lenovo jumps after earnings
Thu May 23, 2013 9:28pm EDT HONG KONG May 24 (Reuters) - Hong Kong shares are set to open flat on Friday, with PC maker Lenovo Group Ltd up 4 percent to be the top percentage gainer among Hang Seng Index components, extending gains after it reported a forecast-beating quarterly profit. The Hang Seng Index was set to open flat at 22,679.36. The China Enterprises Index of the top Chinese listings ...
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Hamlin takes Coca-Cola 600 pole with record lap
Danica Patrick looks on as crew members work on her car during practice for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, ...
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Hewlett-Packard profit down 32
Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations , as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services. While fiscal second-quarter profit plummeted 32 percent ...
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In risky new tack Microsoft stacks Surface against iPad
(Credit: Microsoft) Microsoft's "iPad vs. Windows" campaign now includes iPad vs. Surface RT. Is Microsoft picking the right fight? On the back ...
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Sears losses mount weighs sale of unit to shore up liquidity
Some on Wall Street saw D'Ambrosio's departure as adding to Sears' risks, and worried that Lampert's lack of retail sales experience could hurt the company's attempt to turn around its core Sears department stores and Kmart ...
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U.S. options clearer moves to end trade type dominated by Nasdaq
SAN FRANCISCO (Reuters) - The clearinghouse for all stock options said Thursday it will adopt a policy aimed at abolishing a dividend-linked trading strategy that critics say could destabilize markets if left ...
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Salesforce.coms quarterly results disappoint Wall Street
Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower. Under Marc Benioff, Salesforce's CEO and founder, the company's fast revenue growth has made it a favorite with investors eager to own part of the growing trend among businesses to outsource their information technology needs - from ...
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Fed Fears Shake Global Markets but Fade on Wall St.
Investors are contemplating a future without support from one of the biggest engines of the global economy in recent years: the Federal Reserve. Fears that the Fed is about to reduce its stimulus helped send stock, bond and currency prices on a wild ride on Wednesday and Thursday, with Japanese stocks experiencing their worst one-day decline since the 2011 tsunami and United States ...
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GLOBAL MARKETS-Asian stocks shaky Nikkei still seen vulnerable
Fri May 24, 2013 12:22am EDT * Nikkei down 0.6 pct, erases earlier gains * Asian stocks outside Japan dip to 1-month lows * Yen rises vs USD and euro as Nikkei trims gains By Ian Chua SYDNEY, May 24 (Reuters) - Japanese stocks turned negative on Friday and the yen reversed early losses, keeping intact worries that the Nikkei's largest one-day drop in two years may be the start of a bigger ...
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Hot property Trace Water addition Savage
Details: The Savage City Council has approved plans for a third addition to the Trace Water subdivision, paving the way for 40 custom homes starting at ...
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Kahne embraces long races like the Coca-Cola 600
Kasey Kahne climbs into his car for practice for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, 2013. (AP Photo/Mike ...
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Art Laffers tax fix for California
Economist Arthur Laffer, known for advocating supply-side economics while advising former President Ronald Reagan, discusses Kansas Gov. Sam Brownback's income tax plan with reporters, Thursday, Jan. 19, 2012, at the Statehouse in Topeka, Kan. Laffer, of Nashville, Tenn., also advised the Brownback administration and calls its tax plan "beautiful." (AP Photo/John ...
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UCSD gets $6.4 million to hire stem cell researcher
Ahrens studies cellular biology with nuclear magnetic resonance tools that let him examine the activities of living cells, including stem cells. The cells can be tracked inside whole animals, helping to establish their roles in diseases and how they respond to ...
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ITC rules Microsofts Xbox doesnt infringe on Motorola patent
The U.S. International Trade Commission has decided to make final a judge’s preliminary ruling that Microsoft's Xbox console does not infringe on a Motorola patent. ...
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Boy Scouts to Admit Gay Youth
The Boy Scouts of America on Thursday ended its longstanding policy of forbidding openly gay youths to participate in its activities, a landmark step its chief executive called "compassionate, caring and kind."The decision, which followed years of resistance and wrenching internal debate, was widely seen as a milestone for the Boy Scouts, a symbol of traditional America. More than ...
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PG Brings Back Lafley to Replace CEO
Procter and Gamble is bringing A.G. Lafley out of retirement to be its Chairman and CEO, effective immediately. He had been CEO from 2000 to 2009. He succeeds Bob McDonald, who is retiring at the end of June after 33 years with the company. In 2009, McDonald took over the CEO job from Lafley. Share of the Dow component were up slightly shortly after the surprise ...
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Google Boss Fears Digital Ethnic Cleansing
Two of Google's most senior executives have used a lecture in London to press their belief in the transparency of the internet and warned of the dangers of "digital ethnic ...
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Microsoft cleared in Xbox patent spat with Google
The U.S. International Trade Commission on Thursday said it won't review a final ruling that found Microsoft to be in the clear of infringing on patents held by Motorola Mobility, which Google acquired last year. The ruling ...
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UPDATE 3-Former Goldman banker settles SEC pay-to-play charges
WASHINGTON/CHICAGO, May 23 (Reuters) - A former Goldman Sachs Group Inc. investment banker has agreed to a five-year securities industry ban and a record fine to settle U.S. Securities and Exchange Commission charges that he broke rules against influence peddling to win bond underwriting business in ...
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Fed Study Rebuts Banks on Swipe Fees
A Federal Reserve study on debit-card transactions undercuts complaints from the banking industry that a government cap on the fees large lenders charge merchants would result in a drop in the payments for all banks.Small banks and credit unions last year were able to charge slightly more than double the average fee of large lenders for debit-card transactions in which the customer has to sign a ...
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Brazil Raises FGC Bank Deposit Guarantee Coverage to BRL250000
Brazil's National Monetary Council authorized on Thursday an increase of the coverage of the country's FGC bank deposit guarantee fund to provide greater protection to depositors and align the country's policies with deposit guarantee practices abroad, the council said.The move had previously been approved at a board meeting of institutions participating in the FGC fund, which is ...
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OMERS considering proposal to reduce pension payouts
Faced with a $10-billion pension-funding deficit, one of Canada’s largest pension funds is considering a drastic proposal that would reduce benefits paid to retiring workers -- or force them to work years longer for the same retirement ...
Mexico Feature
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Mexico has more to it than drugs and immigration
As Mexico’s image suffers damage abroad due to increasing levels of violence related to the drug crack-down by government, it may be helpful for Mexicans to remember that there is more to their country than drugs and immigration problems with the US. Some facts may be surprising and even shocking, especially to foreigners.
Mexico has been in the news frequently of late as the government carries out a crack-down on drug cartels and organized crime, the country’s murder rate is up, journalists have been killed for investigative reporting on drug gangs and our image internationally has generally been diminished by the tunnel vision of international news providers. Read more
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